TIIC to guide MSMEs in technology solutions

Three-day InterFoundry and InterDieCast exhibition begins in Coimbatore

September 15, 2022 08:50 pm | Updated 08:50 pm IST

Hans Raj Verma, Chairman of TIIC, (third right) at a stall at the InterFoundry and InterDieCast exhibition in Coimbatore on Thursday.

Hans Raj Verma, Chairman of TIIC, (third right) at a stall at the InterFoundry and InterDieCast exhibition in Coimbatore on Thursday. | Photo Credit: SPECIAL ARRANGEMENT

The Tamil Nadu Industrial Investment Corporation (TIIC) plans to tie up with academic institutions to guide micro, small and medium-scale enterprises (MSMEs) in industry 4.0.

Inaugurating a three-day InterFoundry and InterDieCast exhibition, organised by the Foundries Development Foundation (FDF), here on Thursday, Hans Raj Verma, Chairman of TIIC, said the Corporation is not only into lending to MSMEs but is also providing value proposition to its MSME customers. It has tied up with Society of Indian Defence Manufacturers to encourage MSMEs in the Defence sector. Prime Minister Narendra Modi is giving a big push to self-reliance in the Defence sector and so is the State government.

Further, the TIIC is partnering with VIT to onboard MSMEs on industry 4.0. “We are looking at partnerships with institutes like the PSG,” he said. The MSMEs need low-cost technology solutions as mastery in technology is a national security.

The geo political context today is favourable to industries. All stakeholders should skill youth and generate jobs. As the share of the manufacturing sector in the GDP grows, there will be several job opportunities. Almost 60 % of foundries are in the MSME sector. The TIIC will partner with the foundries and push for single window clearance for FDF’s proposal for a centre of excellence here to train workers.

M. Manickam, Chairman and Managing Director of Sakthi Group, said the anual casting productin in China is 45 million tonnes as against 10 million tonnes in India. However, wages have doubled in China in the last 10 years and manpower is a challenge to the industry there. There is potential for shift of at least a million tonnes to India. Further, a large quantity of castings go to the US from China. The US is looking at India now.

According to Nandini Rangasamy, Director at Tamil Nadu Industrial Development Corporation, the 600 and odd foundries here with an annual turnover of $ 1.5 billion provide employment to one lakh peoople. These units play an impotant role in the economy of the region. The requirements of the foundry sector here include technology, quality certification facilities, funds, and trained manpower.

R. Palanisamy, chairman of the organising committee of the event, said aim of the expo is to take knowledge of technology developments to shop floor people in the foundries. The exhibition has 180 exhibitors occupying 90,000 sq.ft. with direct and indirect participation of six countries.

Vice-President of FDF Krishna Samraj said the government should provide single window clearance for a Centre of Excellence that the FDF is setting up here at a cost of ₹30 crore to train workers.

The exhibition at CODISSIA Trade Fair Complex is organised jointly by FDF and VA Exhibitions.

Top News Today

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.